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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
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